Almighty created man as one but in modern times the so called society has been segmented into a number of classes .These are classified on the basis of many reasons popular once being income ,caste creed or color. The one such class that make up for the masses in India is the Middle class Some might differentiate us by income or some might casts us on the basis of thinking or so called mentality but Nevertheless we make up the major part of the population in India .The middle income households in the rural areas are constituted by large farmers and small entrepreneurs and salaried government employees.Middle class section has turned out to be a rather dominant section over other sections in recent times
Being a democratic nation whose Ideologies should be based upon equality and freedom India seems to have chosen a different path .Our daily dose of news comprises of scams forgery and much of a chaos. However we are very much use to the same but it is rather unpleasant and sad .India has a large population (1.2 billion +) which is great if you have a product to sell. On the downside, India has a very large
population.Probably now I can think of the fact as to why the foreign nation so keen to invest in India one recent example would be the FDI policy issue .
Being born and bought up in a middle class Income family it gives me a perspective or rather an approach towards the conclusion that we middle class people "First save well and Then spend well" .The foreign nations calls this approach to be conservative but no doubt this has helped us during the time of the recession Saving first is one of the major objectives that is taught to us right from the very beginning we start earning .
I can think of no better reference other than mine own as I was well advised by my parents specially my father that one should always save a part of salary as saving ,and a part for investments that would yield in future .This was seemingly tough and difficult at first but it has now become a part of my life and it feels good to have few thousand in account and growing on which i can bank upon during he time of difficulty or probably they might help me in setting up my own business which i intend to do and that is for sure .
With some few examples I can try to answer as how the people in Indian spend ??what do they spend on and what do we prefer over different choices ?? Seemingly India is a developing nation and with this global acceptance there are quite a viable and big market in india...Like as said before India has a large population (1.2 billion and plus) which is great if you have a product to sell.
I am sure this might be the simplest of the examples of them all . In India the most popular mode to travel is by the railways .Although we have options of airlines and private vehicles but the most popular mode is by the rail which is also cheapest and convenient ..Apart from the fact being a cheaper mode of transportation this has proven to be a boon in disguise for the metro cities like Delhi Kolkatta and Mumbai where metro rail or commonly known intercity link trains have made travel much convenient avoiding all traffics . Also another example would be the number 1 selling vehicle in India is not a car but a motorcycle The number of two-wheeler sold during the same period was 11.2 million units.The average sales of these two wheeler increase in the festives seasons like in months of October and November during Diwali .. Likewise if we look up the four wheeler sales statistics in India i can conclude that nowadays there is a significant rise in the sales of car like Alto Swfit and Wagon R etc.These are not the luxury cars or SUV's but these are classified as family cars .Compared to the sales of the luxury cars or SUV's the demand for these family cars is very high (We can see that form the recent incident when there was a strike in the Maruti Maneser plant .The strike had led to huge losses and all that lies now is a huge waiting list .People who were excepting there car to be delivered on this Diwali have to wait till the new year )We do have a market for the Audi ,Benz and BMW but they do not make up well in overall sales chart as compared to other countries like China USA Europe
Now it seem that I have started to have a glimpse of the phrase I stated earlier
"First save well and Then spend well" in the starting"
The country's growth is largely driven by its domestic demand. This is fulled by a growing middle-class population, young consumers, and rising incomes. Middle-income consumers are estimated to rise at a dynamic rate in the coming years creating a diversified market for global and domestic producer. Similarly, India has one of the youngest populations in the world with a median age of 23 against the global average of 33. About 200 million youngsters are expected to enter the workforce in the next decade. As India enters the sweet spot in its demographic experience, its rising productivity and burgeoning markets will be a major global growth engine.
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